Troubled SEKAP seeks temporary stay in collection measures

Thursday, 28 December 2017 19:17

The board of cigarette manufacturer SEKAP on Thursday announced a "stop payment" decision in case the company's smooth operation is not restored, days after a northern Greece appeals court left intact a fine of more than 38 million euros imposed in far-off 2009 for customs violations.

The troubled company, controlled by Greek-Russian businessman Ivan Savvidis, also announced the hiring of a bankruptcy attorney

 A significant court date comes on Friday, when the company's attorneys will request a temporary stay of administrative measures aimed to collect the fine.  

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